All,
Every quarter policy requires MJN capital to inquire about idled and impaired assets. For Q2 2016 idled / impaired assets, we are requesting you complete the attached template and return to us by June 30, 2016. For any impairments, you must complete the MJN template discussed under Impairment Policy attached. Your reviews should also include Construction-in-Progress (i.e. capital projects that currently in progress). Please ensure proper GOA signatures are obtained on these forms.
If you have assets that are idled, please make sure that communication is made to Global Engineering by engineers at your location to ensure that the equipment being idled for your location is truly idle and not usable by another location of the company.
A confirmation to me is required even if there are no assets that have been idled or impaired in Q2-2016.
Your reviews should include all fixed asset classes including Construction-in-Progress (i.e. capital projects currently in progress) and Intangibles (excluding Goodwill). In addition, please ensure Toolroom/Spare Parts Inventory is reviewed for obsolescence as well.
The CFR Group has requested an impairment questionnaire be completed in conjunction with quarterly idle / impaired confirmation process. Please complete the attached for your respective LE and submit with your confirmation.
Please let me know if you have any questions.
Regards,
Tony